Elliott Chehebar Acquires Retail Condo In Soho For $11M
424 Broadway, New York, NY 10013, USA & 424 Broadway, New York, NY 10013, USA
Building Size
75,710 SF
Asset Type
—
Closing
Apr 22, 2018
About this deal
AI
The retail condo located at 424-426 Broadway in New York's Soho neighborhood was recently sold in a closed transaction for a price of $11,000,000. Spanning an area of 7,571 square feet, the retail condo was sold for an average price of $1,452 per square foot. The property was sold by The Shih Family to The Jackson Group, represented by Elliott Chehebar.
Summary of transaction details
- Property Type: Retail Condo
- Transaction Amount: $11,000,000
- Address: 424-426 Broadway, New York
- Market: Soho
- Square Footage: 7,571
- Price per Square Foot: $1,452
- Seller: The Shih Family
- Buyer: The Jackson Group – Elliott Chehebar
Elliott Chehebar, representing The Jackson Group, played a significant role in the transaction as the buyer. The Shih Family, on the other hand, acted as the seller of the property. This closed deal marks an important milestone for both parties involved.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93